INDIA: Britannia to build plant, R&D centre in Bangalore
Indian biscuit manufacturer Britannia Industries has confirmed to just-food that it will set up a bakery and an R&D centre on the outskirts of Bangalore.
A spokesman said today (18 July) that the move was part of a general expansion strategy to meet growing demand for its products and added: "To augment our capacities and have just signed a memorandum of understanding with the Karnataka government where we plan to invest to augment capacity to support our growth."
The state government of Karnataka, which has planning authority over major investments in Bangalore, gave the go ahead for the INR1bn (US$22.4m) plant in the city's Doddaballapur district on Thursday
Britannia, which is based in Bangalore, reported a 24.7% rise in net profit to INR1.45bn for the year to 31 March. Sales climbed 23.8%.
Indian food group Britannia Industries has reported a jump in half-year profits on the back of improved efficiency and higher sales....
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